oh, and BTW, does anyone know how much investment $$ Bush and Cheney have in the oil industry?
MC, I'm not particulary defending the Bush family here, but I am also sick and tired of hearing people make these kinds of remarks. The Bush family has been in the Oil buisness for many many years. They've been through the highs and the lows throughout the years.
From 1977 to 1980 the price of Crude Oil went from 32.00 to 68.00 per barrel! Should we say that the Carter Family had something to do with it?
It began to drop when the Reagan Administration came into power with Papa Bush as Vice President. Stood pretty stable when Papa Bush became President trading between $20 - $28 per barrel. Doesn't sound to me like he took advantage of his position and helped manipulate the price of oil.
As a matter of fact when Pappa Bush and his buddy Dick Chaney pushed for the UN to take action in the Gulf which resulted in the Gulf War, the price of Crude oil DROPPED big time down to somewhere in the vacinity of $18 per barrel!
So in truth the theory of the Bush family manipulating the price of Oil is in fact a weak theory. For the most part if you take all the time that the Bush family was in the White House, be it Vice President or President, Crude Oil prices were pretty steady and much lower than while other Presidents were in office.
The rising price of Oil is not the workings of one man in power. Do I deny that Junior has some influence in making decisions that may help fluctuate the price of oil? Absolutely not. But the OPEC nations and the Investor Funds are the ones that are guilty of having the power to really manipulate the price of Oil these days.
To blame the Bush family for the rising price of Oil is just the reaction of those who really have no understanding of what has been going on in the oil industry over the last 3 or 4 years. And that is in no way a knock on you or anyone else that doesn't because the average person really doesn't know what takes place in the oil industry/investment world as a whole.
The Investment Funds and those who control OPEC are a bunch of manipulative Whores. That's the bottom line.
I concur. The world market for oil is so dang complex that it would be impossible for anyone family to manipulate it. Since most foreign oil production is controlled by governments, there are just too many players involved to make manipulation the sole provence of any one family.
Oil is a commodity. There's a limited amount of it. So, those who have it sell it for whatever the market will bear. It's the same with bread or gum or olive oil.
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